PSigma is to launch a European equity income fund to be run by investment boutique 2CG founders Charles Glasse and Chris Garsten.
The fund will be a mirror of the Dublin-domiciled 2CG fund run by Glasse and Garsten and will invest predominantly in large caps. The fund is set for an autumn launch, subject to regulatory approval.
Glasse headed the M&G continental European equity team and managed the £400m M&G European dividend fund for over 10 years. Garsten managed the Credit Suisse Netherlands fund from launch in 1992 until setting up 2CG in 2000 and also specialised in Germany and Switzerland.
PSigma managing director Ian Chimes says the appointment differs from the recruitment of US manager James Abate as it was led by the private-client team.
He says: “We have two very experienced managers and, in Charles Glasse, we have a pioneer in European income from his time at M&G. We started in January with one fund at £8m and by the close of 2007 we will hopefully have four funds and a small footprint in the market.”